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Cryptom market in a descent: Bitcoin by government closure under pressure!
The crypto market experiences a decline as Bitcoin falls below $123,000. Government uncertainty and Fed signals weigh on confidence.
Cryptom market in a descent: Bitcoin by government closure under pressure!
The current market situation in the cryptom market is characterized by uncertainty and declines that are reinforced by macroeconomic factors. Bitcoin, the leading cryptocurrency, has lost significantly from its all -time high (ATH) of October 6, where he listed USD 126,198.07 and now acts under $ 123,000. This development arouses concerns among investors who closely observe the effects of continuing government closure in the United States. Crypto.news reports that the shutdown has now entered its second week, delaying the release of key economic metrics.
The uncertainty on the market is reinforced by mixed signals from the Federal Reserve. Important reports on inflation, employment and consumer mood, the publication of which is waited for, contribute to unrest among investors. In the current situation, traders tend to take their profits with them, which is also considered normal according to large price gains. The withdrawal of many large altoins, some of which have even larger losses, shows the heavily tasted market mood.
Gold price as an indicator of confidence in the dollar
In the middle of these uncertainties, the gold market shows a remarkable development. The price of gold has increased strongly since the beginning of the government closure and now exceeds $ 4,000 per ounce. Kevin Rusher, founder of the RWA credit company RAAC, expressed that the increase in the gold price is an indication that investors gradually lose confidence in the US dollar. This could also have an impact on the perception of the cryptom market.
Given the wildly volatile markets, Citadel CEO Ken Griffin noted that this uncertainty could potentially benefit the crypto market. He noted that gold and other alternatives to the dollar are increasing in value, which could strengthen the position of cryptocurrencies. Nevertheless, market sentiment remains tense and uncertainties surrounding the Federal Reserve's monetary policy are still present.